National Bank branding set to go

The National Bank will cease to exist by November 2014.

The ANZ has confirmed it is dumping the National Bank brand, with the two year process starting at the end of next month.

It says 20 existing branches will close, but there will no job losses.

The branding set to go includes the green colour scheme and iconic horse.

ANZ New Zealand CEO David Hisco's told Larry Williams staff and customers will feel little effect.

"For our frontline staff, we want them all there to serve our customers going forward and so the customers of the National Bank, the people who served them yesterday will be the same people who serve them tomorrow."

Mr Hisco says he doesn't expect any job cuts for frontline staff.

He says ANZ will be investing another $100 million in branches in New Zealand, and opening up in 15 new communities.

AUDIO: Full interview of ANZ NZ CEO David Hisco talking to Larry Williams

He says there'll be more "relocations" than closures.

"Some rural towns where we have a large National branch and a small ANZ branch, we'll actually be renovating the larger National branch and moving the team from ANZ into that branch as well.

Andrew Cassidy, finance secretary from First Union, is glad to hear that - but says such definitive commitments have been heard before.

"When they offshored jobs to India, they didn't at that time hold those commitments, they went ahead and cut jobs anyway. So we will be watching closely to make sure they've learnt from that and that they don't repeat the same breach of good faith they did last time."

AUDIO: Reaction from First Union's finance secretary Andrew Casidy

Photo: Edward Swift